AI English summary of an SEC filing — figures as filed
Cognizant CTSHCognizant entered into a new credit agreement on October 5, 2026 with JPMorgan Chase Bank, N.A. as administrative agent, consisting of a term loan facility of $550 million and a revolving credit facility of $1.85 billion.
Key points
AI summaryCognizant entered into a new credit agreement on October 5, 2026 with JPMorgan Chase Bank, N.A. as administrative agent, consisting of a term loan facility of $550 million and a revolving credit facility of $1.85 billion.
The company said it used proceeds from the term loan facility mainly to repay the term loan facility under its existing credit facilities. It also borrowed about $1.0 billion under the revolving credit facility on the closing date and used it mainly to repay the existing revolving credit facility. The existing credit facilities terminated on the closing date.
The company said the new credit agreement matures on October 3, 2031 and is unsecured. No scheduled term loan payments are due for the first 1 years, after which quarterly installments of $6.875 million are due. Loans bear interest at Term Benchmark or ABR Rate plus an initial applicable margin of 0.875% or 0%, respectively.
The company said the borrowers may request an increase in the new credit facilities of up to $1.2 billion plus the amount of voluntary prepayments. A leverage ratio financial covenant of up to 3.50:1.00 applies at each fiscal quarter end, and for up to 4 quarters after certain material acquisitions, the company may elect 4.00:1.00.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
New Credit Agreement Signed With Borrowing Limits
Cognizant entered into a new credit agreement on October 5, 2026 with JPMorgan Chase Bank, N.A. as administrative agent, consisting of a term loan facility of $550 million and a revolving credit facility of $1.85 billion.
Source · Based on the filing body and exhibits
Repayment of Existing Loans and Revolving Borrowings
The company said it used proceeds from the term loan facility mainly to repay the term loan facility under its existing credit facilities. It also borrowed about $1.0 billion under the revolving credit facility on the closing date and used it mainly to repay the existing revolving credit facility. The existing credit facilities terminated on the closing date.
Source · Based on the filing body and exhibits
Maturity, Repayment Schedule and Interest Terms
The company said the new credit agreement matures on October 3, 2031 and is unsecured. No scheduled term loan payments are due for the first 1 years, after which quarterly installments of $6.875 million are due. Loans bear interest at Term Benchmark or ABR Rate plus an initial applicable margin of 0.875% or 0%, respectively.
Source · Based on the filing body and exhibits
Increase Limit and Financial Covenants
The company said the borrowers may request an increase in the new credit facilities of up to $1.2 billion plus the amount of voluntary prepayments. A leverage ratio financial covenant of up to 3.50:1.00 applies at each fiscal quarter end, and for up to 4 quarters after certain material acquisitions, the company may elect 4.00:1.00.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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